1384
"Ferrari" Polyot Professional Watch made for the Grand opening of the first Russian "Ferrari" Dea...
Currency:USD
Category:Everything Else / Other
Start Price:NA
Estimated At:150.00 - 250.00 USD
NOT SOLD (BIDDING OVER)
0.00USD+ applicable fees & taxes.
This item WAS NOT SOLD. Auction date was 2002 Oct 27 @ 10:00UTC-8 : PST/AKDT
"Ferrari" Polyot Professional Watch made for the Grand opening of the first Russian "Ferrari" Dealership. This 23 jewel, limited edition (No. 344) chronograph has a titanium/gold case, a red face with the name "Ferrari" and their logo at top, an internal tachometer, water resistant to 50m and a brown leather strap. Made in limited quantities as presentation pieces, these watches are seldom seen outside Russia. Estimate: $ 150 - 250
Auction Location:
United States
Previewing Details:
Tuesday, October 22 – October 25, 2002, 9:00 a.m – 5:00 p.m <b>By APPOINTMENT ONLY</b>
Additional Fees:
Shipping Details:
No Info Available
Payment Details:
No Info Available
<i>The following are the terms that Aurora Galleries International, Inc. (“Aurora”), as an auction house, establishes with consignor as well as the terms under which Aurora, acting as an agent on behalf of consignors, contracts with buyers. Both buyers and consignor/sellers should read the terms and conditions carefully.</i>
<p><b>1. Definitions: </b>
<i>Buyer:</i> The buyer is the person making the highest bid accepted by the auctioneer.
<i>Seller:</i> The consignor of lot(s) sold at auction.
<i>Lot:</i> Item consigned with Aurora for sale at auction, and identified by an assigned lot number in a catalogue.
<i>Hammer Price:</i> The dollar amount of the winning bid accepted by the auctioneer for a lot, less the buyer’s commission.
<i>Reserve:</i> The dollar amount below which a lot cannot be sold, as contracted with the consignor/seller prior to auction.
<i>Buyers Commission:</i> A charge of fifteen percent (15%) of the hammer price invoiced to Buyers. This commission is added to the hammer price and other related fees (if applicable) and totaled on the Buyers invoice.
<p><b>2. Auctioneer</b>
This is a public auction sale conducted by Aurora Galleries International, Inc. (hereinafter referred to as "Auctioneer" and/or "Aurora"), and a bonded auctioneer.
<p><b>3. Auction Procedure</b>
<p>The auction sale is a contract between Buyer and Seller for the purchase/sale of the lot(s). This auction sale is conducted and transacted only in United States dollars, payable in cash in U.S. dollars through a United States bank located within the country.
<p>Payments are to be made by check, cashier’s check, wire transfer or major credit card. Aurora must be contacted in advance for wiring instructions before sending a wire transfer. All wire transfer fees are the responsibility of the Buyers. Buyers who have not established credit with Aurora authorize Aurora to conduct a credit check. Buyers are responsible for providing satisfactory credit references or to deposit a minimum twenty-five percent (25%) of their total bids for the relevant auction session(s) or any other amounts as Aurora may, in its sole and absolute discretion, require before bids will be accepted. Deposits will be applied to the Buyers invoice. Remaining deposits will be promptly refunded, upon clearance of the funds.
<p>A Treasury Form 8300 will be filed on all cash transactions whose aggregate total exceeds $10,000.
<p>A fifteen percent (15%) Buyer's Commission will be added to the invoice for all lot(s) invoiced to Buyers. Additional fees may be assessed if applicable, to include (but not limited to) taxes, freight, handling, postage, insurance and/or any and all other fees and taxes mandated by law. Any fee or tax not collected by Aurora from the Buyer due to oversight, error, negligence, gross negligence, mistake or retroactive legislation/taxation, is the responsibility of the Bidder. Bidder acknowledges and agrees to pay all fees, taxes, interest and penalties promptly upon demand.
<p>Lots must be paid for by the earlier of receipt of invoice or delivery. At Aurora’s discretion, Aurora may allow a dealer to receive Lots upon Aurora’s receipt of a currently dated check that Aurora will hold for thirty (30) days before depositing. On any accounts past due, Aurora reserves the right to extend credit and impose periodic charges. If any invoice is not paid for in full when due per invoice terms, the unpaid balance will earn interest at the rate of one-and-one-half percent (1-1/2%) per month until it is paid in full. In the event this interest rate exceeds the interest permitted by law, the interest rate will be adjusted to the maximum rate permitted by law. Bidder agrees to pay all reasonable attorneys' fees, court costs and other collection costs incurred by Aurora or any affiliated or related company to collect past due invoices. Aurora reserves the right to assign its interest to any third party.
<p>Bidders personally and unconditionally guarantee payment(s) that are due or owed or become due or owed to Aurora. If the Bidder is a corporation, the corporate representative attending the sale shall provide Aurora, upon registration, with a statement signed by each principal, director and officer that they personally, jointly, severally and unconditionally guarantee any and all current or future obligations owed to Aurora.
<p>Bidder/Buyer grants to Aurora or its assigns the right to offset any sums due, or found to be due to Aurora, and to make such offset from any past, current, or future consignment that are in the possession or control of Aurora; or from any sums due to Bidder/Buyer by Aurora. Bidder/Buyer further grants Aurora a security interest in such sums or items to the extent applicable. Bidder/Buyer agrees that Aurora and its assigns shall be a secured party with respect to items bought by Bidder and in the possession of Aurora, to the extent of the maximum indebtedness, plus all accrued expenses attorney fees and costs, until the indebtedness is paid. Bidder grants Aurora the right to file a UCC on such items without need for Bidders signature, and to assign such interest to any affiliated or related company or any third party deemed appropriate by Aurora.
<p>Aurora reserves the right to refuse to release lots for which good funds have not been received. If a successful Bidder fails to make payment when due, Aurora reserves the right to resell the lot(s) in a commercially reasonable manner, which may include a private sale. Bidder agrees to pay for the reasonable cost(s) in the event of such a sale, in addition to any related costs of sale, including reasonable attorneys' fees and costs, cataloguing and any other reasonable charges.
<p><b>4. Commission</b>
A Buyer's Commission of fifteen percent (15%) on each individual lot will be added to all purchases made by Bidders, except for re-acquisitions by Consignors, regardless of affiliation with any group or organization, and will be based upon the total amount of the final bid. A reacquisition charge may apply to Consignors pursuant to a separate agreement, which may be higher or lower than the Buyer's Commission.
<p><b>5. Before the Sale</b>
Aurora’s auctions take place in a place determined to be conducive to the professional control of the sale and protection of property. For this reason Aurora retains the right, at its sole discretion, to refuse admission to anyone wanting to participate in the auction. In addition, Aurora reserves the right to record the auction via electronic media (sound, video, etc.) for its own internal use only; no copies of these recordings will be made available to consignors or buyers unless Aurora, in its sole discretion, chooses to do so.
<p>All potential bidders desiring to participate in the auction sale must have a catalogue and register to bid at the auction by completing a registration card or bid sheet. Every buyer must be prepared to show ID upon registration. By submitting a bid, the Bidder acknowledges receipt of the catalogue, that the Bidder has read the Terms and Conditions of Sale and the descriptions for the lot(s) on which they have bid, and agrees to adhere to the Terms and Conditions of Sale. This agreement shall be deemed to have been made in California. The Bidder acknowledges that the invoice describing a lot by number incorporates by reference the Catalogue and Terms and Conditions of Sale.
<b>Dealers must present a non-returnable photocopy of their resale cards at registration, which copy will be retained by Aurora. </b>
<p><b>6. Bidding</b>
Bidding in this sale constitutes acceptance by the Bidder of all the Terms and Conditions of Sale stated herein. Bidders include Consignors who retain their lots pursuant to their consignment agreement with Aurora. Aurora reserves the right to include in any auction sale its own consignments as well as consignments from affiliated or related companies, principals, officers or employees. Aurora may have direct or indirect interests in these, or other items, and may collect commissions. THIS PARAGRAPH SHALL BE DEEMED A PART OF THE DESCRIPTION OF ALL LOTS CONTAINED IN THE CATALOGUE.
<p>Bids will not be accepted from persons under eighteen (18) years of age without a parent's or legal guardian’s written consent, which acknowledges and agrees to the Terms and Conditions of Sale and agrees to be bound thereby on behalf of the Bidder.
<p>Bidder acknowledges and agrees with the following: Grading is a process by which an estimated value of a lot is determined. Two people may not grade the same item alike; and as market conditions change, grading standards may changes as well. Grading is an educated opnion; it is not an established fact. The grade and estimated value herein
represent the opinion of Aurora and/ or its Consignor(s)/Sellers. Every Bidder's individual examination of the item(s) is the determining factor and not the grade determined by others. Every reasonable effort is made by Aurora to ascertain provenance and authenticity. It is the Bidder's responsibility to determine value prior to bidding. In any purchase or sale, the value of the item(s) is determined by the price. THE BIDDER HEREBY ASSUMES ALL RISKS OF VALUE CONCERNING ANY AND ALL PURCHASES.
<p>All Bidders who examine lot(s) prior to the Auction Sale, personally assume all responsibility for any damage that Bidder causes while handling or examining lot(s). Aurora has exclusive discretion in ascertaining the value of any damage caused, which shall be promptly paid by the responsible Bidder.
<p>Pursuant to a separate agreement with Aurora, Consignors or their agents may be permitted to bid on their own lots in the auction sale and may receive a rebate commission in whole or part if successful. Where the Consignor has re-purchased a lot and the lot is either returned to the Consignor or otherwise dealt with or disposed of in accordance with the Consignor's direction, or pursuant to contractual agreement, Aurora reserves the right to so note in the prices realized or to omit a price from the price realized.
<p>Aurora retains the right, at its sole and absolute discretion, to make loans or advances to Consignors and/or Bidders.
<p>Aurora reserves the right to bid on its own account at any auction sale. Bidder acknowledges and agrees that Aurora may not be required to pay a Buyer's Commission, or other charges and/or fees that other Bidders may be required to pay and may have access to information concerning the lot(s) that is not otherwise available to the public. Any claimed conflict of interest or claimed competitive advantage resulting there from is expressly waived by all participants in the Sale. The Auctioneer may open or accept the bidding on any lot by placing a bid on behalf of the Consignor or his or her agents or a Bidder by mail, telephone, telefax, Internet or any other participant in the sale.
<p>The Auctioneer may accept or decline any bid, challenge any bid or bidding increment, at the Auctioneers exclusive discretion. Bids must be for an entire lot and each lot constitutes a separate sale. No lot will be broken up unless otherwise permitted by the Auctioneer. Lots will be sold in their numbered sequence unless Auctioneer directs otherwise. <b>It is unlawful and illegal for Bidders to collude, pool, or agree with another Bidder to pay less than the fair value for lot(s). Bidders in the Sale acknowledge that the law provides for substantial penalties in the form of treble damages and attorneys' fees and costs for those who violate these provisions.</b>
<p>Lot(s) may carry a reserve, which is a confidential price or bid below which the Auctioneer will not sell an item or will re-purchase on behalf of the Consignor or for Aurora.
<p>All items shall be sold in independent lots to the highest Bidder as determined by the Auctioneer. If a dispute arises, Auctioneer shall have the right to rescind the acceptance of the bid and place the lot(s) for Sale again. Auctioneer's decision shall be final. For the Mail and Internet Bidder's protection, no "unlimited" or "buy" bids will be accepted. When identical bids are received for a lot, preference is given to the first bid received as determined by the Auctioneer. A mail bid will take precedence over an identical floor bid; a Floor Bidder and Telephone/Internet Bidder must bid higher than the highest mail bid to be awarded any lot. Auctioneer reserves the right to refuse any bid, to reduce any mail bid received, to open the bidding of a lot at any level deemed appropriate by the Auctioneer and to determine the prevailing bid, at his sole discretion.
<p><u><b>AURORA IS NOT RESPONSIBLE FOR ANY MISTAKES IN BIDDING. </b></u>Bidder is responsible to bid on the correct lot(s) and that they are willing and able to pay the maximum bid amount bid PLUS the fifteen percent (15%) Buyer's Commission and any and all related fees and charges. Once the hammer has fallen and the Auctioneer announces the winning Bidder, the Bidder is unconditionally responsible to pay for the lot, even if the Bidder has made a mistake.
<p><b>7. Returns
For those bidders participating in the auction sale via mail, telefax or Internet who have not had the opportunity to see the lot(s), if there is a material error in the catalogue description, the lot may be returned if written notice is received by Aurora within five (5) calendar days of receipt of the lots by bidder. Returned lot(s) must be received by Aurora no later than twenty-one (21) calendar days after receipt of lots from the Auction Sale in the same condition the lot(s) were delivered to the Bidder, and in their original containers. Late remittance constitutes just cause for revocation of all return privileges. </b>
<p>THIS IS NOT AN APPROVAL SALE. Bidders who physically attend the Auction Sale, either personally or through an agent ("Floor Bidders") should carefully examine all lots that they are interested in purchasing. Bidders who bid by telephone or Internet, either personally or through an agent, receive a similar benefit as Floor Bidders in being able to actively participate in the live Auction Sale (Telephone Bidders). Therefore, except as otherwise provided in these Terms and Conditions of Sale, NO LOT MAY BE RETURNED THAT IS PURCHASED BY A FLOOR BIDDER, A TELEPHONE BIDDER, ANY OTHER BIDDER WHO HAS HAD AN OPPPORTUNITY TO VIEW THE LOTS, OR ANYONE PRESENTING AURORA WITH A RESALE CERTIFICATE OR OTHER EVIDENCE THAT THEY ARE ACTING AS A DEALER.
<p>After the sale, it is the Bidder's responsibility to contact Aurora to arrange shipping and packaging. Aurora will not assume responsibility for the shipping and packaging of certain larger items or items of a more fragile nature sold in this sale as identified by Aurora. Due to the fragility of some
items, Aurora may charge additional shipping and handling fees. “Framed" lots are shipped at the Bidder's risk.
<p><b>8. Warranties and Disclaimers </b>
Agreement supersedes all other prior agreements or understanding with respect to the subject matter hereof. This agreement may only be amended or supplemented by an agreement in writing signed by both parties hereto. Successors in interest to this Agreement inures to the benefit of, and shall be binding upon the heirs, administrators, successors, and assignees of the parties hereto.
<p>Each person executing this Agreement in a representative capacity represents and warrants that he is empowered to do so.
<p>CA Civil Code § 1740 et. seq., which applies to certain prints, photographs, and/or sculpture casts, will be sold with an accompanying Certificate of Authenticity containing express warranties of the information set forth therein ("Fine Prints"). Unless, otherwise set forth herein, all other items and lot(s) sold at the Aurora Auction Sale are sold with a limited warranty that the item sold is authentic. Any other warranty is expressly disclaimed.
<p>Any claims regarding a lack of authenticity must be made within three (3) months from the date of the Auction Sale and may only be made by the original Bidder of record at the Auction Sale.
<p>Any claims disputing the authenticity of an item sold at the auction sale are subject to the generally accepted opinion of Aurora's experts, subject to methods of verification used for the Sale. Scientific processes not generally accepted for use at the time of the Auction Sale or those that are unreasonably expensive or impractical are excluded as methods of verification.
<p>If a successful challenge to the authenticity of any lot(s) purchased results, Aurora agrees to reimburse the respective Bidder in an amount equal to the successful bid price actually paid by Bidder at the auction sale plus any Buyer's Commission actually paid, in full and complete satisfaction of all claims, which once tendered by Aurora, relieves and releases Aurora from any responsibility whatsoever to the Bidder, even if the instrument is not cashed or is returned.
<p>Large lot(s) or lot(s) described as being “sold as is" are not returnable for any reason whatsoever.
<p>No warranty, express or implied, including a warranty of merchantability is made with respect to any grade description that is only an opinion that is likely to differ, even among experts.
<p>No employee or agent of Aurora has authority to vary or alter these Terms and Conditions of Sale. Any alteration shall be effective only in writing and signed by an authorized Aurora officer. Except as set forth in the Certificate of Authenticity for Fine Prints, all oral and written statements made by Aurora and its employees are statements of opinion only, and are not warranties or representations of any kind.
<p>Bidders shall not have recourse against Consignors.
<p>If Bidder bids through an agent, the agency must be disclosed in writing to Aurora prior to the Auction Sale, otherwise the benefits of the warranty shall not transfer to the undisclosed Bidder and instead shall be limited to the agent.
<p>Aurora reserves the right to withdraw any lot at any time, even after the hammer has fallen, until the Bidder has taken physical possession of the lot. No Bidder shall have a right to claim any consequential damages if a lot is withdrawn, even after the auction.
<p>Bidder expressly consents to the following Waiver and Release: Bidder, for himself, his heirs, agents, successors and assigns, generally and specifically waives and releases, and forever discharges Aurora, and its respective affiliates, parents, shareholders, agents, subsidiaries, employees, members of their respective boards of directors, and each of them, and their respective successors and assigns from any and all claims, rights, demands and causes of action and suits, of whatever kind or nature, whether in law or equity, whether known or unknown, suspected or unsuspected, which Bidder may claim to have with respect to and/or arising out of, or in connection with any challenge to the title to any goods purchased, the sale itself, and/or the auction, except where such reimbursement is otherwise authorized in these Terms and Conditions of Sale.
<p>It is the intention of Bidder that this waiver and release shall be effective as a bar to each and every claim, demand, cause of action and suit that may arise hereunder, and Purchaser hereby knowingly and voluntarily waives any and all rights and benefits otherwise conferred upon him by the provisions of Section 1542 of the CA Civil Code, which reads in full as follows: "A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT WITH THE DEBTOR."
<p>Title to any lot remains with Consignor, any secured party of the Consignor, or Consignor's assigns, as the case may be, until the lot is paid for in full by Bidder. Aurora reserves the right to require payment in full before delivering any lot to the successful Bidder.
<p>It is the Bidder's responsibility and obligation to have the lots fully insured while in his or her possession. Bidder assumes any and all RISK OF LOSS while the lot(s) is in Bidder's possession.
<p>If a dispute arises concerning ownership of a lot that has been bid upon, Aurora reserves the right to commence a statutory interpleader proceeding at the expense of the Consignor and successful Bidder and any other applicable party, and in such event shall be entitled to its reasonable attorneys' fees and costs.
<p>All scans and photographs in this catalogue are of the actual items being sold, but in most instances the photographs are not the actual size, scale or color.
<p>Aurora retains the right to cancel or postpone the auction sale or any session thereof for a reasonable period of time for any reason whatsoever. No Bidder shall have any claim as a result thereof, including incidental or consequential damages.
<p>Neither Aurora nor any affiliated or related company shall be responsible for incidental or consequential damages arising out of any failure of the Terms and Conditions of Sale, the auction or the conduct thereof and in no event shall liability for any such failure exceed the purchase price, premium, or fees paid.
<p>Rights granted Bidders under the within Terms of Conditions of Sale are personal and apply only to the Bidder who initially purchases the lot(s) from Aurora. The rights may not be assigned or transferred to any other person or entity, whether by sale of the lot(s), operation of law or otherwise. Any attempt to assign or transfer any such rights shall be absolutely void and unenforceable. No third party may rely on any benefit or right conferred by these Terms and Conditions of Sale.
<p>If the Bidder fails to comply with one or more of these Terms and Conditions of Sale, then, in addition to all other remedies that it may have at law or in equity, Aurora may at its sole option, either (a) cancel the sale, retaining all payments made by Bidder as liquidated damages, it being recognized that actual damages may be speculative or difficult to compute, or (b) sell a portion or all of the lot(s) held by Aurora, in a quantity sufficient in the opinion of Aurora to satisfy the indebtedness, plus all accrued charges. More than one such sale may take place at the option of Aurora. Notice of this sale shall be by email, fax, or U.S.P.S. Certified Mail, Return Receipt Requested to the address utilized on the Bid Sheet, Auction Consignment and Security Agreement or other last known address by Aurora. Such sale will be at Aurora's standard commission rates at public or private sale. The proceeds shall be applied first to the satisfaction of any damages occasioned by Bidder's breach, then to any other indebtedness owed to Aurora, including without limitation, commissions, handling charges, the expenses of both sales, reasonable attorneys' fees, costs, collection agency fees and costs and any other costs or expenses incurred. Bidder is also liable to Aurora if the proceeds of such sale or sales is insufficient to cover the indebtedness.
<p>These Terms and Conditions of Sale and the auction shall be construed and enforced in accordance with, and governed by, the laws of the State of California in the county of Ventura, regardless of the location of the Auction Sale. Each party to this agreement hereby agrees that any dispute arising under this agreement or any of its provisions shall be submitted to binding arbitration in the county of Ventura in the state of California and not elsewhere. It is further agreed between Consignor/Buyer and Aurora that arbitration shall be binding and final on all parties and both parties waive their right to seek remedies in court including a right to a jury trial. Each party further agrees that the prevailing party will be
reimbursed for costs and expenses incurred in connection with the arbitration by the other party.
<p>If any section of these Terms and Conditions of Sale or any term or provision of any section is held to be invalid, void, or unenforceable by any court of competent jurisdiction, the remaining sections or terms and provisions of a section shall continue in full force and effect without being impaired or invalidated in any way.
<p><b>9. “Guide for Absentee Bidders” </b></br>
Absentee bidding allows you to participate in an auction as though you were there. Our absentee bidding system is easy to learn and use. Before bidding, peruse the catalogue and identify the lots you are interested in bidding on. We recommend you research the market value of these lots by checking price histories, price lists, appraisers or other alternative price guidelines. After you have decided your bids on these lots, complete the "Absentee Bidder Registration Form" and "Bid Sheet," and then mail or fax it to Aurora as soon as possible. If you have questions or need further clarification on how to bid by mail or fax, please contact Aurora directly.